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In this paper we propose to study the differences among family and non-family-firms in relation to its financial strength, and therefore its potential position to resist in front of financial crisis and receive financial support or conditions by public or private institutions.

We used multiple hierarchical regressions on a sample of 137 Spanish medium-sized firms (SMEs).

We observe that the perspectives and idiosyncratic characteristics of family-firms (strongly influenced by their socioemotional wealth) will affect the way these companies invest and operate in the market, which would be more related to efficiency because of their higher willingness to continue the legacy of the business and their weak risk-bearing attributes.

Our study adopts a measure of familiness with a dummy variable, and not as a continuous variable as proposed by recent research. Therefore, our results although relevant and significant for the family firm literature, must be viewed carefully. Additional research could also retest some prior studies to depict differences caused by “real” family firm involvement.

Under a non-munificent environment, the financial strength maintained by firms will be highly relevant since this context could likely stress and influence their immediate future and viability, overcoming and blurring any other characteristic present in the firm or its managers.

This paper contributes to the family firm literature by offering insights into the nuanced dynamics between family and non-family firms during economic downturns, specifically examining their financial strength when different strategic options are pursued and when firms are managed by different type of managers.

The present globalisation of the economy is one of the main forces driving the internationalisation process of firms, a phenomenon that has been one of the most widely studied in the literature and which has given rise to numerous explanatory theories. The manufacturing sectors of machinery, food, textiles, furniture have already consolidated their presence in international markets, induced by the increased competition deriving from liberalisation of foreign trade and the desire to conquer new markets. If in manufacturing sectors globalisation has been high, the service sector has not been far behind. One of the sectors that has been most influenced by changes in the competitive framework is banking. Therefore, the objective of this empirical study will be to analyse the process of internationalisation followed by Spanish banks (Banco Santander, BCH, BBV and Argentaria), and the results obtained, measured in terms of “internationalisation degree” and “return on assets” (ROA). The main markets receiving the investment of the banks chosen for the study, as well as the motives and the different entry modes adopted for their internationalisation are then analysed. It will be seen what international movements have occurred as a result of the mergers in 1999, and whether they represent any change in the internationalisation, strategy of these firms. The study will be completed with the presentation of some patterns of behaviour observed in the internationalisation processes of the Spanish banks analysed.

Despite the importance of the service sector in developed economies and the growth of foreign investments in this sector during the last decade, few studies have undertaken to empirically analyze the factors influencing entry mode choice. The special characteristics of the service sector increase the complexity of the analysis and, thus, traditional explanations of entry mode choice in manufacturing sectors may need to be complemented by other moderating influences. Based on 174 entry decisions of service firms, our results suggest the importance of including strategic variables and the specific nature of services to understand a complex phenomenon, which is not always associated just with efficiency and value-based considerations but also with strategic issues and industry characteristics.

Given the importance of understanding the dynamics of the internationalisation and expansion process, it is surprising that – in reviewing the extensive literature – that little attention has been paid to service organisations. This paper attempts to shed light on business strategies and the international entry modes of the services sector in general, and the area of banking which form a significant and substantive proportion of global trade. Therefore, this paper aims to address this omission by exploring the behaviour of Malaysian multinational financial and banking service industries in their international expansion in terms of their motivation, mode of entry strategies, selection of target markets, and their strategic thrusts.

The paper follows an exploratory approach utilising qualitative multiple case studies. Empirical data are presented from case study of four large Malaysian‐based multinational commercial banks through interviews with managers from the banks' headquarters as well as managers responsible for and/or engaged in the development and implementation of international marketing strategies.

It is inferred that Malaysian multinational commercial banks are entering foreign markets, employing a foreign direct investment entry mode, by creating branches and representative offices, and in some cases by acquiring part of the share or the whole capital of existing local financial institutions. These expansions have been motivated by several factors related to both their domestic markets (push factors: government initiatives, small size, low and limited growth) and the attractiveness of their target markets (pull factors/location advantages: high market growth, low to moderate levels of competition).

The case study has inherently limited the capacity to offer generalisations concerning other service companies.

This paper is rich in its practical implications. As this study was concerned with the practical experience and behaviour of Malaysian‐based multinational banks on their choice of entry modes and organisational forms when internationalising, Malaysian banking and marketing practitioners can use the analysis and results as a means of comparing their current tactical and strategy foreign entry behaviour with that of other internationalising banks.

The paper offers new insights into the emergence and international expansion of Malaysian‐based multinational commercial banks, and sheds light on the internationalisation process associated with services per se.